President Bola Tinubu has officially launched the Student Loan Scheme following a recent amendment to the program. The inauguration of a presidential committee to oversee the scheme is currently underway at the State House, Abuja.
The Federal Government has allocated ₦35 billion to the Nigerian Education Loan Fund (NELFund), aiming to support 70,000 initial applicants. This funding was approved by Tinubu to initiate the scheme.
Jim Ovia, appointed as the Chair of the NELFund Governing Board, sanctioned the loan disbursements to successful applicants during its first meeting in Abuja last month.
During the inauguration at the Villa, President Tinubu is expected to outline the terms of reference for the implementation team to ensure the scheme remains aligned with its intended purpose.
Further details will be provided as they become available.
